8:30AM Kick-off and Startup Pitches:
The day kicks off with pre-screened startups pitching to the entire congregation, like a mini demo day. No questions.
9:50 AM Due Diligence:
We then break out into separate Zoom rooms for each startup. Each team will have 14 minutes with each founding team while judges observe and score the teams. After 14 minutes, the founders will quickly step out, and judges will have 3 minutes to provide feedback to the teams. Focus on ONE thing each team did well and ONE thing they could improve. After each team leaves, you’ll give them a score on the judging form. The notes and scores on the judging form are for you only. We will not collect or distribute judging forms. After the last team’s due diligence session, you will vote for your #1, #2 and #3 teams for this portion of the competition.
12:00PM Quick Feedback to Founders and Lunch Break
After the last due diligence session, spend a few minutes giving the founder some feedback about the morning before taking a lunch break.
1:00PM Judge Deal Discussion
After lunch, the judges will discuss the startups (not the teams) to catch up on the due diligence sessions you were not able to observe. Judges will share how you might structure the deal if you were on a team and were required to submit a term sheet for one of the startups at this event.
1:50PM Written Deliverables and Partner Meetings
Each team must submit an executive summary of their investment decision plus a term sheet summary for one startup. Teams will then pitch their deal to the judges in a simulated 15-minute partner meeting. Teams are instructed to “own” the meeting but to expect interruptions. There is no prescribed time for Q&A.
After the last team, judges vote separately for written deliverables and partner meetings, choosing your #1, #2 and #3 teams for each. Go to www.vcic.org/vote to submit your top #1, #2 and #3 teams. The host will give you the password. Please do not discuss teams with other judges. We enforce a no deliberations policy so that we may more quickly get back to the students to give feedback.
4:00PM Awards Ceremony and VC Round Robin Feedback
After the winners are announced, we’ll go into breakout rooms so that each team can hear individually from each judge. This is the students’ favorite part of the day. Please plan to stay to talk to as many teams as you can. Ideally, you’ll spend 5-10 minutes with each team.